Considering the current condition of the global economy and the continuous increasing spike in precious metal prices , it is necessary that people are bringing out their used gold jewelry and are selling them to cash 4 gold businesses as a way to find some more income to pay off some extra debits to to get out of debt.
Maybe you are experiencing the same situation you will need to carefully do your research before selling your gold or silver to just any gold buyers in that there is a huge increase in the amount of scam players in the precious metal buying business who won’t hesitate to prey on your financial desperation and give you next to nothing for your gold.
I realize that this behavior isn’t illegal, it is in my opinion, wrong and I feel obligated to inform those of you who may be thinking of getting rid of your old gold, silver or platinum jewelry to be sure to stay away from companies that are acting as gold brokers and to deal only with refineries or cash 4 gold buyers that own their own refineries
You must realize, cash for gold companies are nothing more than middle men between you and a gold refinery and as a result they will give you in the area of 1/3 of the actual value for your gold jewelry and quickly trade it back to a precious metal dealer themselves therefore obtaining the larger share and you receive a few lousy dollars.
In recent days, Fox news put together a sort of undercover sting, where they submitted 3 identical pieces of gold jewelry to 3 individual precious metal companies and waited for the payment and while all of the businesses did in fact deliver a check for their used gold, only one of those cash for gold buyers actually submitted the true value while the other two companies payed approximately 1/3 of today’s value.
The 2 businesses that gave so little were acting as brokers while the 3rd cash 4 gold business that payed the true value did utilize their own in-house refinery, so it is seller beware in this business and I surely suggest that you do your part before parting with old family jewelry so that you can’t get taken by the cash for gold scam
